TLDR
- Bitcoin drops to $103,500 as the Coinbase Premium Index turns negative.
- RSI falls to 34, matching April’s low and signaling possible price support.
- Taker sell volume exceeds $4 billion amid rising short-term market pressure.
- BTC trades near its 200-day EMA, a key support held for nearly six months.
Bitcoin faced renewed selling pressure this week as the Coinbase Premium Index turned negative while its Relative Strength Index (RSI) reached levels last seen in April. The shift signals short-term caution among U.S. investors but also points to a potential price stabilization phase similar to Bitcoin’s earlier market bottom.
Coinbase Premium Turns Negative as BTC Falls Below $104,000
Bitcoin fell below $104,000 on Friday, dropping to an intraday low near $103,500. The decline marked a turning point for the Coinbase Premium Index, which measures the price gap between Bitcoin on Coinbase and other major exchanges….
